Is it such a fantastical notion to think that OPEC have embarked on a campaign of lowering expectation? Wandering around the newswires dropping bearish bombs such as ‘there may be a further delay in the scheduled meeting, a rollover is a possibility’, and the admission that ‘talks are proving difficult’,...
There is a lot to ponder this week: US consumer confidence report today, the same for the euro zone tomorrow together with US 3Q GDP growth estimates followed by Chinese manufacturing survey, euro zone flash inflation reading and US PCE price index on Thursday and finally US manufacturing PMI on Friday to round up this week’s data releases.
Last week was extraordinary, the moves breath taking, leaving participants feeling nauseous in dips and vertiginous in rallies in single day oscillations, and adding to the outer-world feeling is that the marker crudes chimed in with almost zero changes with WTI -$0.35/barrel on the week and Brent -$0.03.
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